ROBERT L. EHRLICH, JR., Governor                            S.B. 567

11B-112.

(a)     (1) Subject to the provisions of paragraph (2) of this subsection, all books
and records kept by or on behalf of the homeowners association shall be made
available for examination and copying by a lot owner, a lot owner's mortgagee, and
their respective duly authorized agents or attorneys, during normal business hours,
and after reasonable notice.

(2) Books and records kept by or on behalf of a homeowners association
may be withheld from public inspection to the extent that they concern:

(i) Personnel records;

(ii) An individual's medical records;

(iii) An individual's financial records;

(iv) Records relating to business transactions that are currently in
negotiation; [or]

(v) The written advice of legal counsel; OR

(VI) MINUTES OF A CLOSED MEETING OF THE GOVERNING BODY OF
THE HOMEOWNERS ASSOCIATION.

(b)     The homeowners association may impose a reasonable charge upon a
person desiring to review or copy the books and records.

(c)      (1) Each homeowners association that was in existence on June 30, 1987
shall deposit in the depository by December 31, 1988, and each homeowners
association established subsequent to June 30, 1987 shall deposit in the depository by
the later of the date 30 days following its establishment, or December 31, 1988, all
disclosures, current to the date of deposit, specified:

(i) By § 11B-105(b) of this title except for those disclosures
required by paragraphs (6)(i), (8), (9), and (12);

(ii) By § 11B-106(b) of this title except for those disclosures
required by paragraphs (1), (2), (4), and (5)(i); and

(iii) By § 11B-107(b) of this title.

(2)     Beginning January 1, 1989, within 30 days of the adoption of or
amendment to any of the disclosures required by this title to be deposited in the
depository, a homeowners association shall deposit the adopted or amended
disclosures in the depository.

(3)     If a homeowners association fails to deposit in the depository any of
the disclosures required to be deposited by this section, or by § 11B-105(b)(6)(ii) or §
11B-106(b)(5)(ii) of this title, then those disclosures which were not deposited shall be
unenforceable until the time they are deposited.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2004.

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